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Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2023
Dec. 31, 2022
ASSETS    
Net investment in sales-type leases ($336 and $0 of allowances as of June 30, 2023 and December 31, 2022, respectively) [1] $ 3,167,964 $ 3,106,599
Ground Lease receivables, net ($221 and $0 of allowances as of June 30, 2023 and December 31, 2022, respectively) [1] 1,484,948 1,374,716
Real estate, at cost [1] 740,971 740,971
Less: accumulated depreciation [1] (37,385) (34,371)
Real estate, net [1] 703,586 706,600
Real estate-related intangible assets, net [1] 214,446 217,795
Total real estate, net, real estate-related intangible assets, net and real estate available and held for sale [1] 918,032 924,395
Loans receivable, net - related party ($2,311 of allowances as of June 30, 2023) [1] $ 112,168  
Financing Receivable, after Allowance for Credit Loss, Related Party, Type Related party  
Equity investments [1] $ 267,206 180,388
Goodwill [1] 149,505  
Cash and cash equivalents [1] 14,281 20,066
Restricted cash [1] 28,144 28,324
Deferred tax asset, net 6,228  
Deferred operating lease income receivable [1] 164,499 148,870
Deferred expenses and other assets, net [1],[2] 106,086 67,564
Total assets [1] 6,419,061 5,850,922
Liabilities:    
Accounts payable, accrued expenses and other liabilities [1],[3] 119,797 100,357
Real estate-related intangible liabilities, net [1] 64,172 64,591
Debt obligations, net [1] 3,982,339 3,521,359
Total liabilities [1] 4,166,308 3,686,307
Commitments and contingencies (refer to Note 9) [1]
Redeemable noncontrolling interests (refer to Note 3) [1] 19,011 19,011
Safehold Inc. shareholders' equity:    
Common stock, $0.01 par value, 400,000 shares authorized, 63,966 and 62,397 shares issued and outstanding as of June 30, 2023 and December 31, 2022, respectively [1] 639 624
Additional paid-in capital [1] 2,034,678 1,986,417
Retained earnings [1] 154,826 151,226
Accumulated other comprehensive income (loss) [1] 9,119 3,281
Total Safehold Inc. shareholders' equity [1] 2,199,262 2,141,548
Noncontrolling interests [1] 34,480 4,056
Total equity [1] 2,233,742 2,145,604
Total liabilities, redeemable noncontrolling interests and equity [1] $ 6,419,061 $ 5,850,922
[1] Refer to Note 2 for details on the Company’s consolidated variable interest entities (“VIEs”).
[2] As of June 30, 2023, includes $8.1 million due from related parties.
[3] As of December 31, 2022, includes $8.5 million due to related parties.